Al Sagr Cooperative is one of the few companies who spearheaded in registering as a public cooperative insurance in the Kingdom of Saudi Arabia stipulated by the Royal Decree. Today, we are a fully licensed public company transacting all types of insurance business and are sharing with Al Sagr Cooperative peers the thrill of implementing regulations in the Saudi Insurance Market applying to its players, as well as the witnessing of the birth of a regulated Saudi Insurance Industry. From its humble start in the KSA, in 1983, as a branch office for a Dubai based insurance company, today Al Sagr Cooperative Insurance Company is a public Saudi shareholding company with a paid up capital of SR 400 million.
The challenges for us to meet are external and internal. Of the external challenges are establishing healthy competitive atmosphere in Al Sagr Cooperative marketing and sales strategies. It is one of the internal challenges that pose the real challenge to achieve and behind which Al Sagr Cooperative with all its resources, manpower, board of directors and shareholders are mobilized. We aim to grow to a position worthy for us and Al Sagr Cooperative peers to share as leading insurance company and we are on track to achieving Al Sagr Cooperative goal.
We are the strong players of the old times renewed in the newly born regulated market which is Al Sagr Cooperative playground and we are very familiar with its terrain.
For over thirty years the company staff and personnel have dedicated their professional integrity to shaping the image of the company that is Al Sagr Cooperative today.
The management has invested in creating the company team on all company levels. We started with selected qualified key-positioned personnel.
Together we put the foundation for work ethics and code of conduct. We hired promising calibers and subjected them to various insurance training in addition to on-the-job training. The Company staff of today is the synthesis of the vision and commitment of the Management which was applied systematically towards the building of the professional body of Al Sagr Cooperative.
In its search for excellence, Al Sagr Cooperative shall harness the concepts of insurance buying in regions of the Kingdom where culture orientations require more input from insurance professionals to soften the edges of a terrain that demands closer look than others. We, at Al Sagr Cooperative, are ready and are prepared to apply ourselves to servicing the public be it an individual or a family or a group or large conglomerate.